SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver futures plunged during morning trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking a bearish trend in the overseas market as a stronger dollar curbed the lure for the bullion as an alternative asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming demand.

• Oil prices were modestly lower in quiet European trade on Monday, as a broadly stronger U.S. dollar prompted market players to lock in gains from a recent rally which took prices above the key $50-level.Both Brent and West Texas Intermediate oil futures cracked $50 late last week for the first time since October as traders eyed supply disruptions in Nigeria, France, Canada and Venezuela.

• Gold futures fell sharply in European trade on Monday, dropping below the key $1,200-level for the first time since February as investors continued to factor in an increased chance of a near-term U.S. interest rate rise.In remarks made during an appearance at Harvard University Friday afternoon, Federal Reserve Chair Janet Yellen said a rate hike in the coming months “would be appropriate,” if the economy and labor market continue to improve.

TRADING STRATEGY :
BUY GOLD ABOVE 1211 TARGET 1216 1222 SL 1206
SELL GOLD BELOW 1199.7 TARGET 1194.7 1188.7 SL 1204.7

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